Umicore suspends construction of $2.76B battery materials plant in Ontario

Materials company suspends construction of $2.8B Ontario battery plant

The global materials company says it made the decision because of scaled-back expectations for growth in the electric vehicle market.

Umicore suspends construction of $2.76B battery materials plant in Ontario

Umicore says it has halted spending on a $2.76-billion battery materials plant in eastern Ontario.

Umicore halts construction of $2.8-billion EV battery-materials plant in Ontario

The Belgian company announced it had delayed spending on the plant’s construction in Loyalist and commenced a review of its expansion plans in North America

Umicore suspends construction of $2.76B battery materials plant in Ontario

Umicore says it has halted spending on a $2.76-billion battery materials plant in eastern Ontario.

Umicore delays US$2 billion Ontario plant as EV demand slows

Umicore SA delayed plans for its $2.8 billion (US$2 billion) Ontario electric vehicle battery materials plant as consumer adoption falls short of expectations.

Company halts construction of $2.7B battery project in eastern Ontario

After breaking ground in 2023, the company building a plant to produce battery components for electric vehicles in a municipality near Kingston, Ont., says it's delaying construction of the plant citing a slowdown in EV sales.